Samsung announces record revenues and profits, but gains mostly from low-end handsets & chips

Photo: ibtimes.com

Samsung has beaten its earlier forecasts for both revenue and profit in Q3, reporting new records for both at $9.56B profit on revenues of $55.59B.

Samsung had earlier reported that it had sold more than 40 million Galaxy S4 handsets in the first six months, but advised today that most of its mobile growth was in lower-end models, while high-end growth is slowing … 

The figures also revealed that the strongest growth was in its chip manufacturing business, where its profits doubled thanks to rising global chip prices. Samsung makes chips for a range of other smartphone manufacturers, including Apple. Samsung also makes the processors for a growing number of PC Chromebooks including its own and the recently released HP Chromebook 11.